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This week our leaders in D.C. extended the payroll tax deduction for another ten months. The new law also extends Unemployment Benefits, and it allows for a continuation of the old payouts to Doctors for Medicare reimbursements. The cost of the legislation is $110b for the rest of the year. There are some minor offsets to this expense in out years. (We will never see those offsets.)

This legislation should have been easy to draft because it is was just an extension of what had been agreed to, two months ago. But that’s not the case. H.R. 3630 is 386 pages long. The Bill includes some interesting things: